ONEOK, Inc. (NYSE:OKE) has been given a consensus rating of “Buy” by the seventeen brokerages that are presently covering the company, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $58.86.
Several analysts recently issued reports on OKE shares. Barclays PLC began coverage on ONEOK in a research note on Tuesday, September 5th. They issued an “equal weight” rating and a $58.00 target price on the stock. Morgan Stanley lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective for the company. in a report on Wednesday, July 5th. Jefferies Group LLC restated a “hold” rating and issued a $52.00 price objective (up from $51.00) on shares of ONEOK in a report on Friday, September 1st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $58.00 price objective on shares of ONEOK in a report on Monday, September 11th. Finally, BidaskClub upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, August 25th.
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Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of ONEOK by 2,987.9% during the first quarter. BlackRock Inc. now owns 18,697,403 shares of the utilities provider’s stock valued at $1,036,584,000 after acquiring an additional 18,091,903 shares in the last quarter. State Street Corp increased its position in shares of ONEOK by 53.7% during the second quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock valued at $908,434,000 after acquiring an additional 6,086,061 shares in the last quarter. Vanguard Group Inc. increased its position in shares of ONEOK by 17.3% during the second quarter. Vanguard Group Inc. now owns 27,197,952 shares of the utilities provider’s stock valued at $1,418,645,000 after acquiring an additional 4,002,795 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of ONEOK by 10,295.1% during the second quarter. Janus Henderson Group PLC now owns 2,258,138 shares of the utilities provider’s stock valued at $117,779,000 after acquiring an additional 2,236,415 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of ONEOK during the first quarter valued at approximately $90,888,000. Hedge funds and other institutional investors own 51.60% of the company’s stock.
Shares of ONEOK (NYSE:OKE) traded up 1.22% on Friday, hitting $54.08. The stock had a trading volume of 2,053,449 shares. The firm has a market capitalization of $20.55 billion, a price-to-earnings ratio of 33.88 and a beta of 1.30. ONEOK has a 1-year low of $45.41 and a 1-year high of $59.47. The firm has a 50 day moving average of $55.93 and a 200-day moving average of $53.18.
ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.12). The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.64 billion. ONEOK had a return on equity of 8.62% and a net margin of 3.26%. During the same period in the previous year, the business earned $0.40 earnings per share. Equities analysts predict that ONEOK will post $1.72 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th will be issued a dividend of $0.745 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $2.98 annualized dividend and a dividend yield of 5.51%. ONEOK’s payout ratio is 186.25%.
ONEOK Company Profile
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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